The Trail Blazers have signed GM Neil Olshey to a three-year contract extension, the team has announced. David Aldridge of NBA.com (Twitter link) was the first to report the deal. Olshey has also been named President of Basketball Operations as a part of the arrangement. The deal is fully guaranteed for three years and contains a team option for a fourth season, Sam Amick of USA Today reports (Twitter link).

The 49-year-old Olshey is Portland’s 10th GM in the franchise’s history, and has been with the team since June 4th, 2012. Olshey came to the Blazers from the Clippers, where he served as the team’s Vice President of Basketball Operations for two seasons, and was with Los Angeles for a total of nine years.

“Our team has made great strides under Neil’s leadership, and I am excited to extend his contract,” team owner Paul Allen said. “Neil has done an outstanding job as General Manager by quickly rebuilding our team into a playoff contender. The franchise is clearly on the upswing, and I hope to see further improvements in the years to come.”

“This extension is a validation of the efforts of the entire Trail Blazers front office and an endorsement of the level of commitment expected of us by our owner Paul Allen,” said Olshey. “The level of passion for this franchise by our owner, season ticket holders and fans, drives us to build a team that this community can be proud of.”

In Olshey’s first season in Portland the team went 33-49, but last season the team improved markedly, posting a record of 54-28, which was the largest season-to-season improvement in franchise history and Portland’s sixth-best record all-time.